Neutral on Tata Steel, target price Rs 381: Motilal Oswal

Motilal Oswal has given a neutral rating to Tata Steel with a target price of Rs 381. The share price moved up by 1.18 per cent from its previous close of Rs 367.50. The stock’s last traded price is Rs 371.20.

Tata Steel Ltd., incorporated in the year 1907, is a Large Cap company (having a market cap of Rs 44667.09 Crore) operating in Metals - Ferrous sector.

Tata Steel Ltd. key Products/Revenue Segments include Steel & Steel Products which contributed Rs 67213.85 Crore to Sales Value (95.18 % of Total Sales), Power which contributed Rs 1709.51 Crore to Sales Value (2.42 % of Total Sales) and Other Operating Revenue which contributed Rs 1687.56 Crore to Sales Value (2.38 % of Total Sales)for the year ending 31-Mar-2019.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 24288.51 Crore, down 28.08 % from last quarter Sales of Rs 33769.95 Crore and down -31.35 % from last year same quarter Sales of Rs 35382.16 Crore Company has reported net profit after tax of Rs 4663.13 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 34.41 per cent stake in the company as of March 31, 2020 while FIIs held 12.39 per cent, DIIs 29.36 per cent and public and others 29.32 per cent.